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Commerce Past Questions

Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

49 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

49 questions

Question 1 of 20 49 total questions

Question 11

waec 2009

A private limited company differs from a public limited company because it

Aoffers rights issues to existing shareholders

Bhas a separate entity from the owners

Ccannot easily transfer shares

Ddeclares dividend

View Explanation & Discuss

Question 12

waec 2009

Which of the following features is common to all retailers

AOperating as sole-proprietors

BSelling to the final consumers

COperating with small capital

DSelling on hire purchase to consumers

View Explanation & Discuss

Question 13

waec 2009

The internal regulations of a limited company are stated in the

AMemorandum of Association

BCertificate of Incorporation

CArticles of Association

DShare certificate

View Explanation & Discuss

Question 14

waec 2009

The document which helps to determine the country from where goods were imported is

Abill of lading

Bship's manifest

Ccertificate of origin

Dcertificate of trading

View Explanation & Discuss

Question 15

waec 2009

Which of the following is a reduction in the catalogue price?

ARebate

BCash discount

CCommission

DTrade discount

View Explanation & Discuss

Question 16

waec 2009

Stocks, shares and debentures traded in the stock exchange are called

Abears

Bbulls

Csecurities

Dcollaterals

View Explanation & Discuss

Question 17

waec 2009

For overstaying in a port, a ship is charged a fine called

Adock due

Bcommission

Cinterest

Ddemurrage

View Explanation & Discuss

Question 18

waec 2009

A ship that travels without schedule is called a

Apassenger liner

Btramp

Ccargo liner

Dtanker

View Explanation & Discuss

Question 19

waec 2009

Which of the following is a source of capital to a sole proprietorship?

ALoans from friends

BAdmission of new member

CIssue of shares

DIssue of debentures

View Explanation & Discuss

Question 20

waec 2009

The mode of conveying liquids and gases through an underground channel is

Apipeline

Brail transport

Croad transport

Dsea transport

View Explanation & Discuss

Question 21

waec 2009

The letters R/D on a cheque shows that the cheque is

Apaid

Bdishonoured

Ccertified

Daccepted

View Explanation & Discuss

Question 22

waec 2009

The tax paid on goods produced within a country is known as

Aimport duty

Bexcise duty

Cad valorem duty

Dcustoms draw back

View Explanation & Discuss

Question 23

waec 2009

A document through which the public is invited to subscribe to the shares of a company is a

AMemorandum of Association

BArticle of Association

CProspectus

DDebenture

View Explanation & Discuss

Question 24

waec 2009

Which of the following requires a certificate of trading to start business

APublic corporation

BPublic limited company

CCooperative society

DPrivate limited company

View Explanation & Discuss

Question 25

waec 2009

Establishing and maintaining mutual understanding between an organization and its customers is known as

Amarketing concept

Badvertising

Cpublic relations

Dsales promotion

View Explanation & Discuss

Question 26

waec 2009

If a country devalues its currency, there would be

Areduction in imports

Breduction in exports

Cincrease in production locally

Dincrease in local standard living

View Explanation & Discuss

Question 27

waec 2009

Which of the following is a feature of sole proprietorship?

ALegal entity

BUnlimited liability

CLimited liability

DContinuity

View Explanation & Discuss

Question 28

waec 2009

Which of the following would be used when goods are sent through independent carriers?

ADelivery note

BDespatch note

CConsignment note

DAdvice note

View Explanation & Discuss

Question 29

waec 2009

The rate of turnover is the number of times within a given period that

Astock is sold and replaced

Bclosing stock is sold and replaced

Cpurchases are added to stock

Daverage stock is sold

View Explanation & Discuss

Question 30

waec 2009

The taking over of privately owned businesses by the government is called

Aindigenization

Bcommercialization

Cnationalization

Dprivatization

View Explanation & Discuss

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